Bakgrund:Småbolagseffekten påvisades först av Banz (1981) och Reinganum (1981) som kom fram tillatt småbolag genererade högre avkastning än stora bolag under samma period. Effekten syntes även stabil över tiden vilket ej är förenligt med Capital Asset Pricing Model (CAPM) och den effektiva marknadshypotesen (EMH).Syfte:Syftet med denna uppsats är att undersöka om det finns någon påvisbar småbolagseffekt påNasdaq OMX Stockholm och huruvida den i så fall har varit konstant under studieperioden. Vidare syftar studien till att undersöka huruvida relativvärdering av småbolagsaktier framgångsrikt kan användas för att generera överavkastning.Metod:Studien baseras på en kvantitativ metodansats med ett deduktivt angreppssätt. Behövd datasamlas in och sammanställs för att sedan användas för att skapa portföljer som studeras och analyseras baserat på prestation.Slutsats:Studien  har  ej  kunnat  påvisa  en  småbolagseffekt  under  hela  studieperioden.  Underhögkonjunktur har dock en småbolagseffekt kunnat påvisas. Vidare har studien kunnat visa att relativvärdering av småbolagsaktier genererar både absolut och riskjusterad överavkastning jämfört med studiens småbolagsportfölj och marknadsindex (AFGX).

For a long time the Swedish forests were used by the landowner?s mainly for providing wood to the household itself. The wood was not, to a greater extent, considered a product to be sold. During the 1800s the industrial era led to a demanding need for wood in the industry and thus the use of forest, forest production kicked off. The forest production was not regulated by law, which led to a differentiated forest production over the whole country without consideration of re-growth.

AbstractThis essay discusses different explanations and interpretations of what characterizes large areas containing clearance cairns (cairn fields). Results from the analyses show that there are different explanations about when and why cairn fields and clearance cairns occur. Explanations vary from introduction of the wooden ard in the early Bronze Age to the introduction of rational hay-making in the Roman Iron Age.  There is, anyway, relative agreement considering why and when cairn fields were abandoned. The reason suggested is an increasing pasturage with the consequence of reducing soil to poverty during the period of the Great Migration or in the Viking Age.The most likely cultivation system in cairn fields is a system consisting of both intensive and extensive characteristics. The latter coincides with the probable mobility of settlements.

The number of new estate agent offices is increasing yearly and each year many hundred new estate agents graduate. The comparing of estate agents by sellers has perhaps been most common in larger cities, but as competition has increased even in smaller towns we experience that it has become a common phenomenon even there. We both come from a small town but are not afraid of the idea of moving to a larger city as newly qualified estate agents. We ask ourselves, which are the determining factors in the choice of a estate agent in a large city as opposed to a small town? Can we see any differences? The purpose with this essay is to give us added knowledge about which factors private persons consider to be important in their choice of an estate agent when selling a house.The body of information is based on two parallel surveys, one in Hudiksvall and one in Stockholm, together with interviews of people in this line of business.

This paper aims to analyze the effect of the American Subprime crisis of 2007 through the perspective ofHaynes Minsky?s model according to Charles Kindleberger. The investigation revolves how the anatomyof a financial crisis develops and how it is applicable to the Subprime crisis. More specific conclusionsare derived from applying Minsky?s model to the three largest American indices; Dow Jones industrialaverage, S&P500 and NASDAQ.To deepen the analysis the Case-Shiller home price indices acts as a second parameter tocompliment Minsky?s perspective with Robert J.

The aim of this study is to examine possibilities and barriers for an introduction of electric vehicles in Sweden. The study has an interdisciplinary approach and thoroughly examines the essential topics which influence the future of the electric vehicle. The study reaches from answering the question on why electric vehicles lost the game to petrol cars in the early 20th century, to sketch how the difference in total cost of ownership will be between electric vehicles and petrol cars for the coming 20 years. Apart from these subjects the main topics of the study are today?s and tomorrow?s situation regarding technology, charging, fuel, market and economic incentives from an electric vehicle perspective.

Since the spring 2003 the tenant-owner home association the Terrace in Upplands Väsby municipality lies straight under the approach route to Arlanda Airport?s new third landing chute. Noise levels of over 70 dB have been measured in the area, which exceeds National Board of Housing?s, values for traffic noise at a terrace in connection to housing. By using the method of hedonisk pricing the essay tries to find out if there exists a willingness to pay to reduce the noise in the area.

Syftet med uppsatsen är att undersöka om det förkommer underprissättning och om den består de första fem månaderna samt finna sannolikheten för en positiv utveckling efter börsintroduktionen. Eftersom vi har studerat kursförändringar efter börsintroduktioner har vi valt att använda en kvantitativ metodansats i form av en eventstudie. Teorierna behandlar främst förklaringar till varför en underprissättning sker samt hur publicitet och informations asymmetri påverkar prissättningen. Teorier som berörs är bland annat ?Winners Curse?, ?Cascade theory? och ?Signalling theory?.Våra empiriska data kommer främst från bolagens prospekt samt kursinformation från Affärsvärlden och Stockholmsbörsen.

Bostadsbristen för studenter, särskilt i större städer, har under en längre tid varit ett frekvent diskuterat ämne i Sverige. Stockholm har ett brett och starkt utbud av högre utbildning och regionen expanderar kontinuerligt. Regionen har idag cirka 80,000 studenter som slåss om färre än 13 000 studentbostäder. Detta medför en risk att studenter väljer bort Stockholm som studentstad.Denna studie syftar till att undersöka möjligheterna för studentbostadsmarknaden att utvecklas. Med ett kvalitativt tillvägagångsätt via intervjuer med fastighetsutvecklare och lärosäten identifierades fem problemområden som ligger till grund för detta examensarbete.

In family firms altruistic effects can arise in order to preserve the ownership of the firm within the family. The family firm may chose to carry or take measures against these effects. Regardless, it will lead to different agent costs. Therefore, the aims of the study were to explain how altruistic effects in family firms exert an influence on the administrative systems and possible counter measures.In order to explain the origin of altruistic effects, we built a theory which showed that the altruistic effects were followed by agent costs. The family can take measures to counteract these original effects.

This paper aims to analyze the effect of the American Subprime crisis of 2007 through the perspective ofHaynes Minsky?s model according to Charles Kindleberger. The investigation revolves how the anatomyof a financial crisis develops and how it is applicable to the Subprime crisis. More specific conclusionsare derived from applying Minsky?s model to the three largest American indices; Dow Jones industrialaverage, S&P500 and NASDAQ.To deepen the analysis the Case-Shiller home price indices acts as a second parameter tocompliment Minsky?s perspective with Robert J.

This study has focused on obesity prevention efforts in schools in the United States of America. The study was conducted in two states, Oklahoma and New Hampshire. In New Hampshire, the study was focused on more minor efforts which were the "CSHP", HEAL, Early Sprout, FIT, AFHY, 5210, and Kids CATCH Club. In Oklahoma, the focus on the study was on the program It's All About Kids.Method: Unstructured interviews and observation, analysis from an national policy document. A total of seventeen interviews conducted, seven of them in New Hampshire and ten in Oklahoma.

When unlimited tax liability exists, the individual is liable for all income, both which originates from other countries as well as from Sweden. In order for unlimited tax liability to exist the individual needs to either be considered a resident in Sweden, have habitual abode here or if previous residence existed, that the essential linkage still consists. To determine whether an essential linkage exists, the factors set out in the third chapter 7 § IL shall be considered, an overall assessment of all relevant circumstances must be made. In case law however, it appears that three of the factors have been given greater importance, one of which is the factor residence for year-around use, which includes both residence for permanent use and residence used for recreational purposes. The question raised in this thesis is whether the factor residence for year-round use is still regarded as a sufficiently strong basis to independently induce essential linkage for the taxpayer.A big difference between the two housing types exists.

Problembakgrund: Den traditionella investeringsstrategin består av bland annat Modern Portföljvalsteori och Capital Asset Pricing Model, men på grund av empiriska problem efterfrågas alternativa investeringsstrategier. Denalternativa investeringsstrategini denna uppsats består av småbolags-, värdebolags- och momentumeffekt. Detta innebär att forskning visat att investering i småbolag tenderar att ge högreavkastning än i stora bolag, att företag med högt värde tenderar att ge högre avkastning än tillväxtbolag och att man bör satsa på förra årets kursvinnare.Syftet: Syftet med denna uppsats är jämföra, småbolag med stora bolag, värdebolag med tillväxt bolag och årets kursvinnare med årets kursförlorare, på den svenska marknaden för åren 1996-2012, för att se om den ena ger högre avkastning än den andra. Vi vill se huruvida dessa effekter finns på den svenska marknaden.Metod: Vi har använt en kvantitativ studie och jämfört avkastningen mellan de båda grupperna. För att sedan se om vi finner någon signifikant skillnad har ett T-test använts.

AbstractAuthor: Markus Ekström and Albin OlssonAdvisor & examinator: Petter Boye, Thomas KarlssonTitle: Brand Valuation of companiesKeywords: Brand Valuation and Kalmar CountyIntroduction & Problem: The term trademark is originated from the Old Scandinavianbrandr and means stigmatize. A new standard for brand valuation ISO 10668 was adopted in2010, which has created a more reliable valuation method. It used several different methodsbefore, which meant different values but now they have agreed to this standard, which shouldmean that more companies make brand valuation. But that?s not the case, and you can wonderwhy? We also want to see the benefits created for companies, and the benefits companies canget with a valuation of the brand.Purpose: With this essay we want to examine how companies in Kalmar County looks atbrand valuation, if they have made it or not.